<PAGE> PAGE 1
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000 C000000 894089
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002 D010000 02109
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007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
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007 C010800 8
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007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C021700 J.P. MORGAN EMERGING MARKETS DEBT FUND
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007 C011800 18
007 C011900 19
007 C012000 20
007 C022000 J.P. MORGAN NEW YORK TAX EXEMPT BOND FUND
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007 C012100 21
007 C012200 22
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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010 C03AA01 02116
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010 C03AA02 10036
010 A00AA03 PIERPONT GROUP,INC.
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<PAGE> PAGE 4
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014 B00AA03 8-99999
014 A00AA04 BOSTON INSTITUTIONAL SERVICES INC
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015 B00AA01 C
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
055 A000600 N
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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SIGNATURE GEORGE A. RIO
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semiannual
report dated January 31,2000 for the J.P. Morgan Tax Exempt Bond Fund
and is qualified in its entirety by reference to such semiannual report.
</LEGEND>
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